Eli Lilly and Company (NYSE:LLY) Shares Down 0.5%

Shares of Eli Lilly and Company (NYSE:LLY) were down 0.5% during trading on Wednesday . The stock traded as low as $743.00 and last traded at $746.74. Approximately 2,569,799 shares traded hands during trading, an increase of 16% from the average daily volume of 2,215,511 shares. The stock had previously closed at $750.77.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LLY shares. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective on the stock. in a research report on Wednesday, February 21st. Citigroup raised their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Truist Financial reaffirmed a “buy” rating and set a $850.00 target price on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Finally, Bank of America raised their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $728.05.

Eli Lilly and Company Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average is $764.24 and its 200 day moving average is $658.28. The stock has a market capitalization of $708.77 billion, a PE ratio of 128.61, a PEG ratio of 1.64 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the company earned $2.09 EPS. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 12.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the sale, the insider now owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Fairfield Bush & CO. bought a new stake in Eli Lilly and Company during the 1st quarter valued at about $107,000. Roundview Capital LLC lifted its holdings in Eli Lilly and Company by 2.6% during the 1st quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after buying an additional 53 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $210,000. NewEdge Advisors LLC raised its holdings in shares of Eli Lilly and Company by 9.9% in the 1st quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after purchasing an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $561,000. Institutional investors own 82.53% of the company’s stock.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.